ECONOMICS REFERENCES COMMITTEE—PROPOSED REFERENCE

Senator Xenophon amended business of the Senate notice of motion no. 3 by leave and, pursuant to notice of motion not objected to as a formal motion, moved—That the following matter be referred to the Economics References Committee for inquiry and report by 30 June 2011:

The proposed acquisition of the Australian Stock Exchange (ASX) by Singapore Exchange Limited (SGX), with particular reference to:

(a) whether such an acquisition would be in the national interest;

(b) whether the 15 per cent ownership cap on the ASX is appropriate;

(c) whether the revised proposed composition of the merged board and governance arrangements (as announced on 15 February 2011) are appropriate;

(d) the Government of Singapore's interest in the SGX and its role in the proposed merged entity;

(e) what impact such an acquisition might have on Australia's ability to attract investment; and

(f) any other related matters.

Statements by leave: The Leader of The Nationals in the Senate (Senator Joyce) and Senator Xenophon, by leave, made statements relating to the motion.